February 4, 2013
Will the Burmese Spring Collapse?
Christian Lewis, National Review
Burmese president Thein Sein's government deserves credit for the country’s ambitious political and economic liberalization program, but there is still a non-negligible risk that Burma’s reform process will fall apart, or serious risk that it will stall. Last week, the Paris Club of donor nations wrote down $6 billion of the $11 billion owed by Burma for development projects dating back to the 1980s, and the multilateral financial institutions and regional development banks received payment from Japan to clear arrears, a prerequisite to new lending. As a result, there will be plenty of opportunities for businesses to capitalize on projects funded by lending programs from international institutions, bilateral subsidized loans, and foreign aid. While the risks from endemic...
TAGGED: Aung San Suu Kyi, Thein Sein, Myanmar, Burma